Brief Update on Important Deadlines Related to the Emissions Trading Scheme

The Ministry of Agriculture and Forestry has advised that due to the Select Committee Review process and review of submissions on the draft Forestry Allocation Plan, the following key dates could be affected:

June date for final Forestry Allocation Plan.

30 June deadline for exemption of pre-1990 forests of less than 50 hectares from the ETS.

31 July deadline for registration to receive the free allocation units for pre-1990 forest landowners.

PF Olsen is continuing to advise pre-1990 forest landowners to become prepared to make either an application for free-allocation units, or the 50 hectare exemption. Whilst there is still doubt about the nature and deadlines associated with these processes, it is important that eligible forest landowners do not miss out.

PF Olsen is still accepting requests to undertake these processes on behalf of forest landowners. Contact Colin Hercus on 07 921 7232 or e-mail Colin on Colin Hercus . Please note that if no action is required due to changes in the legislation, there will be no cost charged for PF Olsen's involvement.

Some Interesting Statistics on the ETS from MAF

If you were wondering what was actually happening in regards to real action regarding forestry and the ETS, MAF provide some interesting statistics below.

Post-1989 forestland Participant Registration Applications

MAF has received 174 ETS participant registration applications covering 52,581 hectares of post-1989 forest land. Verification of eligibility has been completed on 95 applicants who have been registered as participants.

As at May 6 2009, 79 applications are still being verified with many of these waiting for additional information from land owners.

Emissions Returns

MAF received 45 eligible emissions returns, claiming 692,583 NZUs. 687,000 NZUs have already been transferred into participants holding accounts over the past four weeks. The timeframe for submitting an emissions return in 2009 has now passed. However, registered participants will be able to submit an emissions return during the first quarter of 2010 and claim any NZUs to which they were entitled back to 1 January 2008.

Pre-1990 forest land Participant (Deforestation) Notifications

Three mandatory participants have notified that they undertook deforestation during 2008/09 and have been registered.

These participants are required to submit an emissions return during the first quarter of 2010 specifying the area deforested and quantifying the number of emissions units they are obliged to surrender. Those units must be surrendered by 30 April 2010.

Source: The "Sustainable Forestry Bulletin" produced by MAF. To subscribe to the Bulletin, please email sustainableforestrybulletin@maf.govt.nz with "Subscribe: Sustainable Forestry Bulletin" in the subject line and your contact details in the body of the email.